High yield corporate bonds have opened noticeably higher (at almost $81.20), yet gave up its quick subsequent gains - but without declining further, it instead reconquered these levels.

On the surface, this raises the probability of seeing another stock upswing later today. But have stocks wildly taken the HYG on its cue. Not really, which makes it justified to wait with any position changes.

The Fed speakers and testimony is just around the corner, and the unwillingness of stocks to rise when faced with daily credit markets upswing, is a watchout - along the A. C. Doyle Silver Blaze story of the dog that didn't bark

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.